Legislator Peter J. Savage, III and Local Officials Join in Ribbon Cutting at Rehabbed Home at 22 Allegany
Kenmore, New York– Legislator Peter J. Savage, III joined Erie County Executive Mark C. Poloncarz , Mayor of the Village of Kenmore Patrick Mang, staff from the Buffalo Erie Niagara County Land Improvement Corporation (BENLIC – “The Land Bank”), representatives of JPMorgan Chase, and community members at 22 Allegany Avenue in Kenmore to unveil the Land Bank’s latest renovation project. The “zombie” property had been of great concern to neighbors as it sat vacant and deteriorating and was donated to the Land Bank by JPMorgan Chase in 2015, along with financial remuneration to insure that Village taxes on the property were current through 2015.
"The Land Bank offers creative opportunities to rehabilitate and return properties in limbo into new ownership, and to preserve vibrant and stable neighborhoods like this one in the Village of Kenmore. We will continue to work together to replicate this model throughout our community," stated Legislator Savage (3rd District).
Trapped in foreclosure limbo, “zombie properties” are a neighborhood nuisance and a tremendous economic drain upon the surrounding community. These properties steadily deteriorate over time while interested buyers are held at bay until the often-lengthy foreclosure process is complete. Once vacant and abandoned, 22 Allegany Avenue has undergone over $110,000.00 in improvements since it was donated to BENLIC in 2015. The property was cleverly converted from a three-bedroom/one bathroom home to a four-bedroom/two bathroom home with design assistance from local architecture firm Conway & Company. Other improvements include complete kitchen remodel, all new flooring and trim, new front porch, new electrical service, insulation and drywall.
BENLIC’s rehabilitation of the home was made possible with funds from New York State’s Office of the Attorney General’s Community Revitalization Initiative (“CRI”). As part of the CRI, the home will be sold to a qualified moderate-income homebuyer. BENLIC has invested more than $2 million in CRI funding to rehabilitate homes throughout Erie County since 2015 and anticipates $2.25 million in sales returns by mid-2017.
Much to the delight of surrounding neighbors, 22 Allegany will be listed for sale within days the unveiling.